Macro hedge funds sold the US Dollar index to a net short for the first time
since March 2013.

Large speculators sold wheat and Euro into a crowded short, but bought
crude oil into a crowded long.

The investable HF composite was up 1.45% month to date, with a year to date return of 5.08% against a 3.62% return for the S&P 500 index. Convertible Arbitrage and Event Driven performed the best, up 2.80% and 2.13%, respectively, putting Convertible Arbitrage in the position of top performer year to date with a return of 8.93%. Market Neutral performed the worst and was down 0.67%.